Capri (NYSE:CPRI) Price Target Raised to $31.00

Capri (NYSE:CPRI) had its price objective raised by JPMorgan Chase & Co. from $30.00 to $31.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also weighed in on CPRI. BTIG Research reissued a “buy” rating and issued a $30.00 target price on shares of Capri in a research note on Friday, January 30th. Barclays lowered their price target on Capri from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price target on shares of Capri in a research report on Tuesday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Capri from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Capri in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.92.

Capri Price Performance

CPRI opened at $19.72 on Monday. The company has a fifty day moving average price of $19.20 and a two-hundred day moving average price of $21.96. The firm has a market capitalization of $2.35 billion, a PE ratio of -4.63, a P/E/G ratio of 0.31 and a beta of 1.46. Capri has a 52 week low of $13.00 and a 52 week high of $28.26. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.52 and a current ratio of 1.14.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Capri had a negative return on equity of 430.23% and a negative net margin of 13.57%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.84 million. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts anticipate that Capri will post 0.98 earnings per share for the current year.

Insider Activity

In other Capri news, CEO John D. Idol purchased 55,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were bought at an average price of $17.98 per share, with a total value of $988,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,257,645 shares in the company, valued at $40,592,457.10. This trade represents a 2.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Trading of Capri

A number of institutional investors have recently made changes to their positions in CPRI. Arizona State Retirement System grew its position in Capri by 1.4% in the third quarter. Arizona State Retirement System now owns 34,894 shares of the company’s stock valued at $695,000 after purchasing an additional 483 shares in the last quarter. Empowered Funds LLC lifted its position in Capri by 3.4% during the 4th quarter. Empowered Funds LLC now owns 16,580 shares of the company’s stock worth $405,000 after buying an additional 550 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Capri by 1.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 41,707 shares of the company’s stock worth $1,018,000 after buying an additional 550 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Capri by 14.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company’s stock worth $105,000 after buying an additional 555 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Capri by 1.2% in the 3rd quarter. Amalgamated Bank now owns 52,398 shares of the company’s stock valued at $1,044,000 after acquiring an additional 616 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.

About Capri

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.